DLF launches project in Kasauli
Countrys largest realty firm DLF has launched Samavana in Kasauli,Himachal Pradesh. The development features 50 high-end villas. The villa plots range from 500 to 1,300 square yards and are priced in three slabs of Rs 19,000,Rs 20,000 and Rs 21,000 a square yard. The development is envisaged to be a vehicle-free zone with accessibility to the villas through golf carts. The development also comes with a club house spread over 9 acres.
Noida approves hike in circle rates
The district administration of Gautam Budh Nagar has given preliminary approval to a proposal to hike circle rates by around 10-30 per cent in the coming weeks. The administration is yet to decide when the new rates would be enforced. While rates for institutional and commercial plots will be increased by 20-30 per cent,rates for residential properties would increase between 15-30 per cent. The industrial sector would see a 10-30 per cent increase.
Mumbai office space absorption up 23%
Office absorption in January-March 2012 has grown by 23 per cent as compared to the same quarter in 2011,a report by property consultants Knight Frank said. The total transaction of office space,both sale and lease,in Mumbai in the first quarter of this year has been 1.04 million sq ft as compared to 0.88 million sq.ft in the same period the year before. Despite the increasing number of transactions,both rentals and capital prices have dropped over the last one year. The average monthly rental at which commercial space was leased in Mumbai in the first three months of this year was Rs 111 sq ft as compared to Rs 120 per sq ft in the first quarter of 2011. Similarly the average sale price of commercial property has fallen from Rs 15,409 per sq ft to Rs 8.087 per sq ft between January-March 2011 and 2012.